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May 18, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Lake Ariel, Business Loans > Pennstar Bank, A Division Of Lake Ariel Business Loans > Legal Services Loan | ||||
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Business Loans for Wilkesbarre Businesses
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Loans for LawyersLooking for loans for lawyers? Try the SBA. This $55,000 lawyers loan was issued by a Pennsylvania bank. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pennstar Bank, A Division Of, out of Lake Ariel, Pennsylvania. The loan was granted and they received $55,000 to help grow their Wilkesbarre, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: LEGAL SERVICES SBA Loan Lender PENNSTAR BANK, A DIVISION OF This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8111 - Legal Services NAICS Code 541110 - Lawyers Loan Approval Date 5/21/2001 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $55,000. How would you spend $55,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Advice on Getting a Small Business Loan Best Banks for Small Business in Lake Ariel, Pennsylvania Where to Get an SBA Loan Pennsylvania
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